Trump Hopes to Attract Defense Contractors to ‘Do Magnets’
President Donald Trump urged some of the country’s most dominant defense industry companies to “do magnets” at the Pennsylvania Defense & Innovation Summit in Carlisle, Pennsylvania.
President Donald Trump is hoping to attract Defense contractors to “do magnets.”
The president made a pitch Wednesday at the Pennsylvania Defense & Innovation Summit, where audience included some of the country’s most dominant Defense industry companies.
The pitch cameafter “ProPublica”revealed a top White House aide intervened to help secure a $620 million Pentagon loan for a rare-earth magnet startup after Donald Trump Jr.’s venture capital firm took a stake in the company, per Mediaite.
“I hope you’re gonna do magnets. Somebody out there, I hope — you’re all brilliant people — magnets. Do magnets, OK? I’ll tell you how to make money. Do magnets. You’re doing a lot of great stuff. Do magnets,” Trump said. “Because one thing we don’t have, but we are getting close — but do magnets.”